Milbank has once again taken the lead on associate compensation, becoming the first major U.S. corporate law firm to announce special summer bonuses in 2025 — with payouts ranging from $6,000 to $25,000 depending on class year.
In a firm-wide memo circulated on Thursday, Milbank confirmed that the bonuses will be awarded to associates and special counsel globally. The Milbank 2025 special summer bonus scale is structured by seniority, with bonuses increasing by class year.
Milbank Special Summer Bonus Scale (2025)
Milbank 2025 associate bonus scale showing summer bonuses from $6,000 to $25,000 for each class year, including special counsel.
Payments will be made by 30 September. “We anticipate that activity levels across the firm will remain high through the rest of the year,” said Milbank chair Scott Edelman in the memo.
While these mid-year bonuses are not an annual guarantee, Milbank is known for setting the pace on associate compensation — and other firms often follow, albeit not always immediately. Last year, most major firms matched Milbank’s scale later in the year, layering the bonuses on top of standard year-end payouts.
Milbank was also the first to announce year-end bonuses in November 2024, with payouts reaching $115,000 for senior associates.
As deal flow picks up and competition for exceptional legal talent intensifies, it remains to be seen how rival firms will respond. One thing is certain — the next few weeks will be closely watched across BigLaw.
Attorneys — brace yourself.
